IoT Patent Owners Are The Game Changer: How The Future Will Change?

IoT IP Conference revealed all the doubts and challenges of the Internet Of Things (IoT) both in-house and in private practice. The conference happened on Wednesday, 20^th November. More than 100 delegates attended the conference.

In most conference speakers enthusiastically deliver things and try to engage with the audience, whereas audience only chooses to listen but don’t prefer to engage. But on that conference the delegates were provided with a range of in-depth panel sessions. There were fireside chats to involve people with deep insights, they were asked to question throughout the session, and the response was amazing.

A wide range of topics was covered in the conference, a few of them are the impact of Avanci patent pool on the auto industry, AI inventions and patentability, data exchange incorporate IP briefs, IP System’s engagement with SME, investment strategies in different IoT stage.

The new inventions in IoT fields force new business models to rethink old assumptions on IP strategies. The rise in IoT surprised Audi that has a market capitalization of approximately €34 billion.

Every company wants to explore more opportunities in different IoT applications to make their business smooth and to improve the connectivity. They are investing in R & D sector to explore upcoming opportunities and to stay ahead of others.

In the conference, it was revealed not every company accepts the challenges the way Audi did. They sometimes lack the management experience that is crucial to run different IoT applications. In different IoT applications patient education is necessary to enhance productivity and to understand the changing scenario.

Millions of businesses across the world require a patent license for uninterrupted supply. For the patent license some policy rules are required without any imbalance. The buy-side is much bigger than the sell-side which may create further problems.

The licensees must understand it’s reasonable to sell royalties to those who are asking for this to avoid any political intervention. Still, there will be issues regarding the mindset of small business and large businesses. Real creativity is required for more polished outcomes. There are so many small companies out there who are ready to bring those small changes to develop different IoT applications.